| Parameter | Value |
|---|---|
| Minimum loan amount | R500 |
| Maximum loan amount | R350 000 |
| Minimum term | 61 days (approximately 2 months) |
| Maximum term | Varies by lender and loan type |
| Annual percentage rate (APR) | 12% – 36% per annum |
| Initiation fee | Capped by NCR (maximum R1 207.50 for personal loans) |
| Monthly service fee | Capped by NCR (maximum R69 per month) |
| Credit life insurance | As required by specific lender; disclosed upfront |
| Early settlement | Permitted under NCA Section 125; no penalty allowed |
| Cost to use Crezu | R0 — free to borrower |
NCA Fee Caps (2026 Reference)
The National Credit Act prescribes maximum fees for regulated credit providers. Lenders in the Crezu network may not charge more than these rates:
| Fee type | NCA maximum |
|---|---|
| Interest — personal loan | 27.75% per annum (repo rate + 21%) |
| Interest — short-term loan | 60% per annum (5% per month) |
| Initiation fee | 15% of principal (max R1 207.50) |
| Monthly service fee | R69 |
Borrower Eligibility Requirements
To qualify for a loan matched through Crezu, applicants typically need to meet the following criteria:
- South African resident aged 18 years or older.
- Currently employed or with a regular verifiable income.
- Employed continuously for at least 6 months (requirement may vary by lender).
- The requested loan amount should not exceed approximately 8 times your monthly net income (affordability threshold).
- A valid South African bank account into which funds can be transferred.
- A South African ID number.
Example Cost Calculation
To illustrate how costs work for a loan sourced through Crezu, consider a personal loan of R10 000 over 12 months at an interest rate of 24% per annum (a mid-range rate in the Crezu network):
| Item | Amount |
|---|---|
| Principal | R10 000 |
| Initiation fee (15%, max R1 207.50) | R1 200 |
| Monthly service fee (R69 × 12) | R828 |
| Interest (24% p.a. on reducing balance ≈ R1 332) | R1 332 |
| Estimated total cost of credit | R13 360 |
| Monthly repayment (approximate) | R1 113 |
These figures are illustrative only. Your actual rate and fees will depend on the specific lender and your individual credit profile. Always review the NCA pre-agreement quotation from the lender before accepting any offer.
Early Settlement
All NCR-registered lenders are obligated by the National Credit Act to accept early settlement at any time. If you repay your loan before the scheduled end date, interest is charged only for the days you held the funds. No early-settlement penalty may be imposed.
Risk Warning
Short-term and personal loans involve real financial obligations. Failure to repay on time may result in:
- Daily penalty interest charged at the lender's contracted rate.
- Bounce fees from your bank for a returned debit order (typically R150–R250 per occurrence).
- An adverse credit bureau listing that remains on your credit report for up to 5 years.
- Legal action, including magistrates' court summons and potential emolument attachment orders (salary deductions).
If you are struggling with existing debt, contact the NCR Debt Counselling division or visit the National Debt Mediation Association (NDMA) at ndma.org.za before taking on additional credit.
FAQ — Terms & Conditions
What is the minimum loan I can get through Crezu? R500 — though individual lenders may set a higher minimum within their own product range.
Can I get a loan for longer than 4 months through Crezu? Yes — the platform's maximum term varies by lender; personal loan and debt-consolidation products may have terms well beyond 4 months, up to several years.
Does Crezu do a credit check? The Crezu matching step uses a soft check that does not affect your score. The individual lender will conduct a formal affordability assessment when processing your application.
Are there any hidden fees from Crezu itself? No — Crezu's service is entirely free to borrowers.